Financial Performance - Net income for Q3 2024 was $4.2 million ($0.95 per diluted share), a 39.1% increase from Q2 2024 and a 9.3% increase from Q3 2023[1] - Year-to-date net income for 2024 was $10.6 million ($2.41 per diluted share), up 4.8% from $10.1 million in the same period of 2023[1] - Noninterest income for Q3 2024 was $4.9 million, an 11.6% increase from Q2 2024 and a 20.9% increase from Q3 2023[2] - Noninterest expense for Q3 2024 was $13.9 million, a decrease of 2.9% from Q2 2024 but an increase of 14.1% from Q3 2023[3] - Interest income for Q3 2024 increased by 35.0% year-over-year to $26,053,000, compared to $20,154,000 in Q3 2023[8] - Net interest income rose by 6.7% to $14,652,000 for Q3 2024, up from $13,707,000 in Q3 2023[8] - Noninterest income grew by 24.4% to $4,853,000 for Q3 2024, compared to $4,013,000 in Q3 2023[8] - Net income for Q3 2024 was $4,218,000, reflecting a 4.8% increase from $3,859,000 in Q3 2023[8] - Diluted earnings per share for Q3 2024 increased by 4.3% to $0.95, compared to $0.88 in Q3 2023[8] Assets and Liabilities - Total assets increased by 17.2% to $2.151 billion as of September 30, 2024, compared to $1.836 billion at December 31, 2023[1] - Total net loans rose by $107.5 million (8.7%) to $1.348 billion from $1.241 billion at year-end 2023[1] - Total deposits increased by $185.5 million (12.1%) to $1.723 billion as of September 30, 2024, from $1.538 billion at December 31, 2023[1] - Total assets as of September 30, 2024, reached $2,151,363,000, up from $1,827,910,000 a year earlier[8] - Shareholders' equity increased to $149,928,000 as of September 30, 2024, compared to $114,769,000 on the same date last year[10] Credit Losses and Provisions - The provision for credit losses on loans was $474 thousand for Q3 2024, down from $560 thousand in Q2 2024 and $866 thousand in Q3 2023[2] - Total provision for credit losses decreased by 23.4% to $485,000 for Q3 2024, down from $875,000 in Q3 2023[8] Stock and Dividends - The book value of the Corporation's common stock increased to $33.93 per share as of September 30, 2024[2] - Tangible book value per share (non-GAAP) rose to $31.89 as of September 30, 2024, from $24.24 a year ago[10] - The current quarter dividend yield was 4.25%, slightly down from 4.53% in the previous quarter[8] Taxation - The effective federal income tax rate was 17.3% for Q3 2024 and 16.9% year-to-date[3]

Financial Performance - Total assets increased to $2,039,126 thousand as of June 30, 2024, up from $1,836,039 thousand at December 31, 2023, representing an increase of 11.1%[6] - Net income for the second quarter of 2024 was $3,033 thousand, compared to $2,976 thousand in the same quarter of 2023, indicating a growth of 1.9%[7] - Basic earnings per share for the second quarter of 2024 were $0.67, slightly down from $0.68 in the same quarter of 2023[7] - Net income for the first half of 2024 was $6,394,000, a 2% increase from $6,268,000 in the same period of 2023[10] - Total comprehensive income for the first half of 2024 was $6,453,000, down 32.4% from $9,594,000 in the same period of 2023[8] Income and Expenses - Total interest income for the six months ended June 30, 2024, was $48,541 thousand, a 38.5% increase compared to $35,094 thousand for the same period in 2023[7] - Net interest income after credit loss expense was $26,767 thousand for the six months ended June 30, 2024, compared to $24,971 thousand for the same period in 2023, reflecting a growth of 7.2%[7] - Noninterest income totaled $8,538 thousand for the six months ended June 30, 2024, up from $6,754 thousand in the same period of 2023, marking a 26.3% increase[7] - Total noninterest expense for the six months ended June 30, 2024, was $27,642 thousand, compared to $24,667 thousand for the same period in 2023, representing an increase of 11.9%[7] Loans and Credit Quality - Net loans reached $1,301,302 thousand, an increase of 4.9% from $1,240,933 thousand at the end of 2023[6] - The allowance for credit losses was $17,018 thousand, compared to $16,052 thousand previously, indicating a slight increase in risk management provisions[34] - The provision for credit losses on loans was $560 thousand for the second quarter of 2024, compared to $524 thousand in the same quarter of 2023, reflecting a slight increase[7] - The corporation's provision for credit losses was $998,000, down from $1,061,000, indicating a decrease of approximately 6%[11] - The bank categorizes loans into risk categories, with ongoing monitoring of cash flow and financial performance indicators occurring at least annually[35] Shareholder Equity and Dividends - Cash dividends declared were $0.32 per share in Q2 2024, totaling $1,407,000[8] - The total number of shares outstanding increased to 4,412,374 by June 30, 2024, from 4,393,873 at the end of Q1 2024[8] - Retained earnings rose to $137,581,000 by June 30, 2024, up from $135,955,000 at the end of Q1 2024[9] - The company repurchased 14,684 shares of treasury stock in Q2 2024, costing $400,000[8] Cash Flow and Liquidity - Net cash provided by operating activities decreased to $9,736,000 from $13,385,000, a decline of approximately 27%[11] - Total cash and cash equivalents at the end of the period increased to $179,727,000 from $64,832,000, a significant increase of 177%[11] - Net cash used in investing activities was $(49,553,000), compared to $(40,767,000) in the previous year, indicating a 21% increase in cash outflow[11] - Net cash provided by financing activities rose to $196,404,000 from $27,315,000, an increase of 620%[11] Asset Quality and Valuation - The fair value of the Corporation's equity investment decreased to $352 thousand as of June 30, 2024, from $427 thousand at the end of 2023, indicating a decline of approximately 17.6%[27] - The total fair value of Available for Sale (AFS) securities is $454.465 million, down from $472.503 million on December 31, 2023, reflecting a decrease of approximately 3.1%[18] - The fair value of debt securities pledged to secure public funds, trust deposits, and FHLB loan commitments increased to $231.0 million as of June 30, 2024, compared to $207.4 million at the end of 2023, representing an increase of about 11.5%[18] - The total unrealized losses on AFS securities as of June 30, 2024, amounted to $49.563 million, compared to $49.554 million at the end of 2023, showing a marginal increase[24] Capital and Regulatory Ratios - The Bank's Common Equity Tier 1 (CET1) Risk-based Capital Ratio was 12.01% as of June 30, 2024, up from 11.82% at December 31, 2023[68] - The Bank's capital conservation buffer was 5.52% as of June 30, 2024, exceeding the regulatory minimum of 2.5%[66] - The Bank's Tier 1 Leverage Ratio was 8.38% as of June 30, 2024, down from 9.01% at December 31, 2023[68] - The Bank's Total Risk-based Capital Ratio was 14.66% as of June 30, 2024, slightly up from 14.45% at December 31, 2023[68] Future Outlook and Strategy - The company plans to focus on expanding its commercial real estate lending, particularly in agricultural and business asset sectors, to enhance its portfolio[42] - Future guidance indicates a cautious optimism for growth in both residential and commercial loan segments, with a focus on maintaining asset quality[42]

CHAMBERSBURG, Pa., July 23, 2024 /PRNewswire/ -- Franklin Financial Services Corporation (the Corporation) (NASDAQ: FRAF), the bank holding company of F&M Trust (the Bank) headquartered in Chambersburg, PA, reported its second quarter 2024 and year-to-date 2024 results. A summary of operating results follows: Debt securities available for sale decreased $18.0 million (3.8%) due to paydowns and maturities within the portfolio. At June 30, 2024, the net unrealized loss in the portfolio was $49.3 million, esse ...

· Net income for the second quarter of 2024 was $3.0 million ($0.66 per diluted share) compared to $3.4 million ($0.77 per diluted share) for the first quarter of 2024 (a decrease of 9.8%), and $3.0 million ($0.68 per diluted share) for the second quarter of 2023. · Total assets were $2.039 billion as of June 30, 2024. · Shareholders' equity increased by $4.7 million, year-to-date, to $136.8 million, and the book value of the Corporation's common stock increased to $31.01 per share. · On July 11, 2024, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to___________ Commission file number 001-38884 FRANKLIN FINANCIAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-1 ...

Exhibit 99.1 April 23, 2024 Balance Sheet Highlights Total assets at March 31, 2024 were $2.011 billion, up 9.5% from $1.836 billion at December 31, 2023. Changes in the balance sheet from December 31, 2023 to March 31, 2024 include: · Net income for the first quarter of 2024 was $3.4 million compared to $3.5 million for the fourth quarter of 2023 (a decrease of 3.2%) and $3.3 million for the first quarter of 2023 (an increase of 2.1%). Diluted earnings per share were $0.77, $0.79, and $0.75, for the respec ...

CHAMBERSBURG, Pa., April 23, 2024 /PRNewswire/ -- Franklin Financial Services Corporation (the Corporation) (NASDAQ: FRAF), the bank holding company of F&M Trust (the Bank) headquartered in Chambersburg, PA, reported its first quarter 2024 financial results.  A summary of operating results as of or for the quarter ended March 31, 2024 follows: Net income for the first quarter of 2024 was $3.4 million compared to $3.5 million for the fourth quarter of 2023 (a decrease of 3.2%) and $3.3 million for the first ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to___________ Commission file number 001-38884 FRANKLIN FINANCIAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-1440803 ( ...

FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to___________ Commission file number 001-38884 FRANKLIN FINANCIAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-1440803 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to___________ Commission file number 001-38884 FRANKLIN FINANCIAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-14 ...